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Fly News Breaks for October 8, 2019
TME
Oct 8, 2019 | 06:47 EDT
China Renaissance analyst Alex Liu upgraded Tencent Music to Buy from Hold with an unchanged price target of $16, stating that he expects paying subscriber upside to drive the stock higher over the next 12-18 months. Liu projects paying users to grow 3M quarter-over-quarter to reach 34M in Q3, which he expects to be a positive catalyst for the stock, he tells investors.
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